Yesterday, by means of a voting of 40 versus 10 in the first
debate, a law was approved which contains a tax for commercial
corporations and companies registered in the country. The tax had
been declared unconstitutional by court in January 2015, due to
shortcomings of previous legislature.
As soon as the new law and inherent charge comes into formal and
binding effect, for which it will need to pass the second round of
voting, all corporations and companies in the country will be
subject to this new tax. The charge that will need to be paid will
vary and depend on whether or not the companies are registered as
contributors to income tax and will be calculated according to the
amount of income obtained in the last fiscal period. That being,
the amounts to be paid will be the following:
Inactive corporations (not registered
as Costa Rican tax contributors in front of the authorities)
Active corporations with profits
under ₡51,000,000: ₡106,000 annually
Active corporations with profits
between 51,000,000 and 119,000,000: pay ₡127,000
Active corporations with incomes
superior to ₡119,000,000: ₡212,000 annually.
The initiative of the law establishes that those affected by the
tax will include mercantile corporations (anonymous/stock
corporations and those companies of limited liability), as well as
all subsidiaries or affiliates of foreign corporations registered
in the Registry of Judicial Entities during the month of
That said, the payment of the first tax installment, which must
be carried out once the law comes into effect, proportionally
corresponds to the number of days which have passed that year,
being that the amount must be paid in full by January 2018.
Of the money raised by the tax, the great majority 95% will be
allocated to the ministry of public security, with the purpose of
conducting new recruitments of police and increase endowments of
equipment to officers. The remaining 5% will be used by the
ministry of justice for jail and prison infrastructure
Some of the disputants have already manifested their opposition
to this new tax and notified of their intention to present a
complaint concerning the project, before the constitutional
At Lexincorp Central American Law firm, we will be alert
concerning all developments of this law, in order to inform our
clients the very moment in which the proposed law is converted into
Costa Rican legislature, which would effectively validate the
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The Common Reporting Standard (CRS) has been initiated by the Organization for Economic Cooperation and Development (OECD) aiming at improving international tax compliance and preventing tax evasion, through the automatic exchange of information between the countries that implement CRS.
An AIF-LNP can only be setup as a fixed or variable capital company or as a limited partnership and can only be marketed to well-informed and/or professional investors.
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